The accounting staff of Lambert Company has assembled the following information for the year ended...

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Cash sales	$	731,000
Credit sales		2,500,000
Collections on accounts receivable		2,205,000
Cash transferred from the money market fund to the general bank account		250,000
Interest and dividends received		100,000
Purchases (all on account)		1,800,000
Payments on accounts payable to merchandise suppliers		1,480,000
Cash payments for operating expenses (including payroll)		1,055,000
Interest paid		180,000
Income taxes paid		95,000
Loans made to borrowers		500,000
Collections on loans (excluding receipts of interest)		260,000
Cash paid to acquire plant assets		3,100,000
Book value of plant assets sold		659,200
Loss on sales of plant assets		75,200
Proceeds from issuing bonds payable		2,500,000
Dividends paid		120,000
Cash and cash equivalents, Jan. 1		512,000

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